Siri My Sister

Tag: President Tinubu

  • President Tinubu Bans Binance Operation In Nigeria

    President Tinubu Bans Binance Operation In Nigeria

    President Tinubu Bans Binance Operation In Nigeria

    President Tinubu Bans Binance Operation In Nigeria.

    A restriction on Binance Nigeria Limited’s operations has been harshly criticised by the government, which is led by President Bola Tinubu.

    The Securities and Exchange Commission (the Commission) issued a circular in which it announced the ban.

    The Commission declared that because Binance Nigeria Limited is neither registered or subject to regulation, its operations in Nigeria are unlawful.

    The circular reads: “The attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.

    “Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his/her own risk.

    “As the regulator with the statutory mandate of investor protection, the Commission urges Nigerians to be wary of investing in crypto-assets, and crypto-asset related financial products and services if the service provider/its platform is not registered or regulated by the Commission. Nigerian investors are hereby warned that investing in crypto-assets is extremely risky and may result in total loss of their investment.

    “By this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.

    “The Commission shall provide updates on further regulatory actions with respect to the activities of Binance Nigeria Limited, and other similar platforms and shall work with other regulators in Nigeria to provide further guidance on this matter.”

  • President Tinubu Sacks Emefiele the CBN Governor

    President Tinubu Sacks Emefiele the CBN Governor

    Federal Republic Of Nigeria, President Bola Ahmed Tinubu has suspended Godwin Emefiele, the governor of Central Bank of Nigeria (CBN).

    The suspension was announced in a statement from the Office of the Secretary to the Government of the Federation (SGF) on Friday.

    Emefiele had earlier notified Nigerians that ge would be proceeding on study leave which was granted by former President Muhammadu Buhari, but the suspension has hasten his exit as the Governor of CBN.

    Godwin Emefiele was accused of playing politics with the Naira Crunch Nigerians went through during the 2023 presidential election. He was heavily accused of working against presidential ambition of President Tinubu.

    Besides, Emefiele has been criticized by many citizens for mismanaging Nigerian economy as Naira continued to depreciate against the dollars.

    Mr Emefiele visited President Tinubu on the first day the president resumed office.

    Below is the full statement:

    PRESIDENT TINUBU SUSPENDS EMEFIELE FROM OFFICE AS CENTRAL BANK GOVERNOR

    “President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect.

    This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

    Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.

    Willie Bassey
    Director, Information
    For: Secretary to the Government of the Federation.”

  • President Tinubu Bans Binance Operation In Nigeria

    President Tinubu Bans Binance Operation In Nigeria

    President Tinubu Bans Binance Operation In Nigeria.

    A restriction on Binance Nigeria Limited’s operations has been harshly criticised by the government, which is led by President Bola Tinubu.

    The Securities and Exchange Commission (the Commission) issued a circular in which it announced the ban.

    The Commission declared that because Binance Nigeria Limited is neither registered or subject to regulation, its operations in Nigeria are unlawful.

    The circular reads: “The attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.

    “Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his/her own risk.

    “As the regulator with the statutory mandate of investor protection, the Commission urges Nigerians to be wary of investing in crypto-assets, and crypto-asset related financial products and services if the service provider/its platform is not registered or regulated by the Commission. Nigerian investors are hereby warned that investing in crypto-assets is extremely risky and may result in total loss of their investment.

    “By this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.

    “The Commission shall provide updates on further regulatory actions with respect to the activities of Binance Nigeria Limited, and other similar platforms and shall work with other regulators in Nigeria to provide further guidance on this matter.”